Ares Management LP (NYSE:ARES) was the recipient of unusually large options trading activity on Wednesday. Traders bought 2,168 call options on the company. This is an increase of approximately 4,069% compared to the typical volume of 52 call options.
Ares Management (ARES) opened at $22.95 on Friday. The stock has a market cap of $4,890.00, a P/E ratio of 40.98, a P/E/G ratio of 0.80 and a beta of 1.23. Ares Management has a fifty-two week low of $17.15 and a fifty-two week high of $23.80. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.56.
Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $283.67 million during the quarter, compared to analyst estimates of $286.76 million. Ares Management had a net margin of 4.98% and a return on equity of 39.54%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. equities analysts expect that Ares Management will post 1.81 earnings per share for the current year.
ARES has been the subject of a number of research reports. BidaskClub raised shares of Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Oppenheimer initiated coverage on shares of Ares Management in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price for the company. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Monday, October 9th. Royal Bank of Canada set a $21.00 target price on shares of Ares Management and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, TheStreet cut shares of Ares Management from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.29.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Ares Management by 359.8% in the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after buying an additional 7,700 shares during the last quarter. Commerce Bank bought a new position in Ares Management during the 3rd quarter worth approximately $205,000. Virtu KCG Holdings LLC bought a new position in Ares Management during the 2nd quarter worth approximately $212,000. Goldman Sachs Group Inc. raised its holdings in Ares Management by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after purchasing an additional 3,982 shares during the last quarter. Finally, Clinton Group Inc. bought a new position in Ares Management during the 2nd quarter worth approximately $264,000. Institutional investors and hedge funds own 15.59% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Traders Purchase Large Volume of Call Options on Ares Management (ARES)” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2018/01/13/traders-purchase-large-volume-of-call-options-on-ares-management-ares.html.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.